One in four family offices are fully prepared for succession of next generation

• Global study highlights differences in the approach and priorities of the next generation

• But families and advisers recognise the growing importance of succession planning

Nearly one in four (23%) family offices are fully prepared for the handover to the next generation as succession planning grows in importance, new global research* from Ocorian, the specialist global provider of services to high-net-worth individuals and family offices, financial institutions, asset managers and corporates, shows.

However, the study with family members at family offices as well as senior employees and intermediaries working for family offices with total wealth of $68.26 billion found that the approach and priorities of the next generation will differ when they take over.

Almost nine out of 10 (85%) of family office executives and advisers believe the approach of the next generation differs from founders, with 28% saying it differs significantly. A further 14% say the approach differs but it is not a contentious issue.

The study across 13 countries or territories including the UK, UAE, Singapore, Switzerland, Hong Kong, South Africa, Saudi Arabia, Mauritius and Bahrain found widespread agreement on the importance of succession planning.

Almost all (99%) of the employees and advisers agree more needs to be done on succession planning. Around 91% say they are seeing a natural succession of wealth and leadership in the families they work with. Just 3% say they do not see a natural succession while 6% are unsure.

All the family members questioned agreed that more needs to be done and while 23% say they are fully prepared for the succession a further 73% say they are prepared but more work needs to be done. Around 4% admit to needing to do a lot more work.

Simona Watkis, Head of Private Client – Cayman, at Ocorian said: “Succession planning is always important in family offices and family businesses, but the growing wealth of the sector means succession planning is becoming ever more important and complex.

“In general, the sector appears to be focused on the issue but less than a quarter say they are fully prepared and there is the additional issue of differences in approach and priorities of the next generation compared with the founders.

“Ensuring that succession planning is done correctly is one of the biggest challenges for family offices and it is one where they should seek advice and support from outside the family.”

Ocorian’s award-winning dedicated family office team provides a seamless and holistic approach to the challenges and opportunities families face. Its service is built on long-term personal relationships that are founded on a deep understanding of what matters to family office clients. Its global presence means Ocorian can provide bespoke structures and services for international families no matter where they live.

Key services include formation and administration of family offices, HR support services, support with lifestyle and luxury assets, family governance, resident and relocation services and specialist support with immigration, visas, payroll, marine and aircraft crew management and financial reporting.

*In June 2025 Ocorian commissioned independent research company PureProfile to interview 200 people in the family office sector including family members, full-time employees of family offices and specialist intermediaries such as lawyers, wealth managers, private bankers and tax advisers working for family offices of UHNW family businesses. The total value of wealth managed or owned by the families was $68.26 billion and respondents were based in the UK, UAE, Singapore, Switzerland, Hong Kong, South Africa, Saudi Arabia, Mauritius, Bahrain, Bermuda, Cayman, British Virgin Islands and Jersey,

About Ocorian

Ocorian is a global leader in fund services, corporate and trust services, capital markets, and regulatory and compliance support. Ocorian has more than 30 years of experience in fund administration, accounting, investor services and regulated AIFM and depositary solutions and supports managers across all major asset classes of private markets such as private equity, real estate, infrastructure, debt and venture capital. Ocorian manages over 17,000 structures on behalf of 8,000+ clients, including financial institutions, large-scale international organisations, and high-net-worth individuals. To find out more, please visit www.ocorian.com.